West Valley City’s small but growing biomedical industry is gaining momentum with construction underway of new buildings along Lake Park Boulevard.
It started with the recent opening of Nusano, which produces radioisotopes that are used in the treatment of cancer.
Now, five buildings totaling about 500,000 square feet of office and production space are being erected northwest of Nusano in hopes of attracting additional businesses along the corridor west of Bangerter Highway. Completion of each of the structures is expected between spring and fall of 2026.
“This is all in a biomed and pharmaceutical sector, with Nusano being the catalyst for this development,” said Jonathan Springmeyer, West Valley City’s economic development director.
One of the companies that is already slated to move into the new space is Ratio Therapeutics. The Boston-based pharmaceutical firm employs “innovative technologies to develop best-in-class radiopharmaceuticals for cancer treatment and monitoring,” according to its website. Ratio announced a “long-term supply agreement” with Nusano earlier this year to “support Ratio’s product pipeline and enable innovation.”
That is the developing trend for that stretch of Lake Park Boulevard. “Pharmaceutical companies and therapeutics companies are what we are seeing thus far,” Springmeyer said. “The ones that I’m aware of are existing companies that are currently not in Utah and are expanding their operations in West Valley City for the purposes of being adjacent to and working with Nusano.”
Such was not the original plan for the Lake Park business park. Springmeyer said the vision 20 years ago was to have it be a center of corporate headquarters and “corporately owned” businesses. Intermountain Health has an office complex at 4646 W. Lake Park Blvd. Credit -card company Discover had a large presence east of there until closing and selling its office building in 2024 as part of a consolidation of its corporate footprint. The company was later acquired by financial giant Capital One. Other business and economic changes over the past two decades helped spur the transition of Lake Park Blvd. to more of a medical hub although some non-medical enterprises remain, such as Rocky Mountain Power.
Springmeyer said the biomedical sector is the one bright spot in West Valley City’s business and industrial development. “We’re not seeing a lot of building in general office (space). That sector is still pretty stagnant.”